There
is a terrific grant available for first time home buyers. This grant
will give a home buyer up to $5,000 to use towards down payment, closing
and prepaid costs. There is no repayment required. Act fast as there
is only $15,000,000 available. Our team has requested $108,000 in grant money so far. There is plenty of money left. So, as you start the New Year, look through your pipeline to see if you have any clients that could take advantage of this awesome opportunity!
- First
time home buyer (cannot have owned a home in the past 3 years)
- No
income requirements
- Purchasing a single-family/one-unit, owner occupied, primary
residence.
- No lien or repayment required
- No sales price limit
- Funds can be used for closing costs, prepaids, and down
payment.
- Grants for non-military homebuyers are $3,000.
- Grants for active military and veterans are $5,000.
- Neither grant can exceed 25% of the purchase price.
- These grant funds may be used with any loan type except 203K
loans and may combined with MSHDA’s Down Payment Assistance.
